Magellanic Cloud Subsidiary IVIS Secures LOI from Manappuram Finance

Magellanic Cloud Limited's wholly-owned subsidiary, IVIS International Private Limited, has received a Letter of Intent (LOI) from Manappuram Finance Limited for AI-powered e-surveillance services. The proposed engagement involves deploying an end-to-end security solution, including supply, installation, and centralized monitoring, across over 1,000 Manappuram Finance branches. This initiative leverages IVIS' proprietary AI platform for intelligent surveillance and proactive security management. While the LOI is non-binding, it signifies a significant expansion for Magellanic Cloud in the BFSI sector. Definitive agreements and purchase orders will formalize the project scope and terms.